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FULL VS. PRO-RATA WARRANTY | WHAT DOES IT MEAN?

Written by Renae Berridge | 29-Oct-2018 06:27:40

When it comes to purchasing large and expensive items, you want to make sure you know exactly what is going to happen if by some chance something goes wrong. In contract law, a warranty has various meanings but generally means a guarantee or promise which provides assurance by one party to the other party that specific facts or conditions are true or will happen. 

WHAT DOES RAPID SPRAY OFFER?

Rapid Spray offers full warranty. This means that we must repair or replace the product during the specified warranty period. 

For example, Rapid Spray offers our customers a full 15 year warranty with our cartage and spray tanks. If it 14 years time, your tank cracks or defects within your warranty agreement, we will repair or replace this for you free of charge. This is the case across all our warranty offers. 

That's peace of mind right? 

PRO-RATA WARRANTY

Other companies offer a 'Pro-Rate' Warranty. This means that if an item fails before the end of the item's warranty period, it is replaced or repaired as per usual, however, only for the amount based on a cost that depends on the age of the item at the time of failure. Basically, a pro-rate warranty decreases the value of your purchase over time. 

This type of warranty is also sometimes called partial warranty since only a part of the initial cost is covered. 

For example, if your item is covered for a 15 year warranty period, and you have the item fr 14 years and then an issue arises, the company will then asses how much the item is currently worth and only cover this amount. 

If for example, you paid $10,000 brand new but 14 years later, it is deemed to be only worth $1,000, pro-rate warranty allows for only the $1,000 to be covered leaving you out of pocket. 

Contact us today on 1800 011 000 or leave a comment below if you have any queries about how the Rapid Spray full warranty works and what it covers!